According to Pantera Capital’s monthly investor letter, the firm’s initial coin offering-focused fund is up 362% year-to-date in terms of performance.

“Pantera Funds are continuing to generate strong returns in what has been a seminal year for digital assets. We believe we are still in the early innings of a potential multi-year bull market fueled by strong macro tailwinds and growing fundamentals in the underlying technology,” the firm said in the letter.

By comparison, Pantera’s bitcoin fund is up 218% and its digital asset fund is up 224%. Per the letter, the digital asset fund “typically invests in 10-15 liquid tokens at any point in time” and “is predominantly driven by a discretionary strategy focused on decentralized finance and adjacent assets.”

As CoinDesk reported last month, Pantera’s bitcoin fund has raised a total of $134 million, citing SEC filings.

Disclosure: Pantera Capital made a small equity investment in The Block’s last fundraise.

© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.